Hanmi Semiconductor to invest $32.9M in SpaceX

June 12 (Asia Today) -- Hanmi Semiconductor said Friday it will invest about 50 billion won, or $32.9 million, in SpaceX as part of a strategic move tied to future cooperation in artificial intelligence chip manufacturing.

The South Korean semiconductor equipment maker said in a regulatory filing it plans to acquire shares in SpaceX on Monday. SpaceX, founded by Elon Musk, is a private aerospace company known for rocket technology and its Starlink satellite communications service.

Hanmi Semiconductor said the investment was made with an eye toward potential cooperation related to Musk's Terafab project, an AI semiconductor manufacturing plan involving SpaceX, Tesla and xAI.

The project is aimed at building chip production capacity for Musk's companies, including SpaceX, Tesla and xAI, as demand grows for AI semiconductors, satellite data services and global network infrastructure.

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Market expectations for SpaceX have grown ahead of its expected public listing, with some estimates putting the company's value at about 2,600 trillion won, or roughly $1.7 trillion.

Hanmi Semiconductor said it made the investment to position itself early in the expansion of AI infrastructure from semiconductors and data centers into aerospace, satellite communications and data industries.

The company has previously invested in businesses with future growth potential. Hanmi Semiconductor Chairman Kwak Dong-shin has pursued several investments connected to his relationship with Peter Thiel, the co-founder of Palantir.

Crescendo Equity Partners, a global private equity firm backed by Thiel, invested in Hanmi Semiconductor in 2013, marking the first investment of its kind in a Korean company. Hanmi Semiconductor said its latest investment in SpaceX also stems from that connection.

Kwak and Hanmi Semiconductor jointly invested in semiconductor equipment maker HPSP in 2021, generating a return of about 639% from the original investment. In 2024, Kwak personally invested 31 billion won, or about $20.4 million, in Line Next, a global Web3 company affiliated with LY Corp., acquiring an 8.5% stake.

A Hanmi Semiconductor official said the company decided to invest in SpaceX, a participant in Musk's Terafab project, as AI industry growth expands beyond semiconductors and data centers into aerospace, satellite communications and data businesses.

The company said it plans to reinvest expected returns from the SpaceX investment into its core semiconductor equipment business to support sustainable growth and increase corporate and shareholder value.

-- Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260612010004261